Regulatory Doubts End Gold Reef Bid

A proposed private equity bid for South African casino operator Gold Reef Resorts has collapsed after a damning report by the country’s Securities Regulation Panel made regulatory approval from South Africa’s provincial gaming boards impossible.Gold Reef, which operates the Gold Reef City theme park in Johannesburg and other casinos across South Africa, announced in September last year that a consortium known as Bidco, including South African private equity firm Ethos Private Equity and Goldman Sachs, had made a 9.85 billion rand ($1.32 billion) offer for the group.

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